Durable Orders Up 0.5% in February
Durable goods orders rose for the third straight month.
WASHINGTON (
) -- Durable goods orders rose for the third-straight month in February, according to the federal government.
The Commerce Department said orders for durable goods, or those items that take years to experience wear and tear, rose 0.5%, or $900 million, last month. The moderate increase landed near expectations calling for a 0.6% increase, according to consensus figures provided by Briefing.com.
The jump in orders for January was also revised higher, reflecting a 3.9% rise. The figure originally showed a 3% increase.
After excluding transportation items, new order growth beat Street forecasts by rising 0.9% in February.
--Written by Sung Moss in New York
